Published: April 21, 2011
Standard Bank has reaffirmed its dedication to the continent. Its head of investment banking tells EMEA Finance why.
Sometimes, a bank needs to streamline to grow. Announcing Standard Bank’s 2010 results in March – earnings down 4% at R11.2bn (US$541mn) – chief executive Jacko Maree said the lender was well-capitalised and profitable, but had nonetheless launched a study of its business strategy in the face of a changing market. “After extensive debate, we believe that a fundamental revision of the strategy is unwarranted, but that some refinement and tightening of strategic focus is required,” he said.